Xander Group Invests R70Cr in Ajmera Group's Times Square Project
Xander Group has invested R70Cr in Ajmera Group's office and retail project Times Square in Mumbai's Andheri East through it's NBFC Xander Finance.
Yes Bank was the advisor to the transaction.
The mixed use project is located on the Andheri-Kurla Road in Andheri East, Mumbai and consists of 850,000 sq ft of retail and office area. Of this, around 600,000 square feet has already been developed and is ready for possession. The remaining will be completed by 2013.
Times Square is being developed by Nilkanth Tech Park Pvt Ltd. Neelkanth Tech is promoted by Rajnikant S Ajmera and Dhaval Ajmera.
Xander Group is a US based private equity group which was co-founded by Siddarth Yog and Arthur Segel in 2005. It invests in infrastructure hospitality, retail and real estate sectors.
Xander recently invested R40Cr to Noida-based Paras Buildtech for its Paras Tierea project in Noida. Last year, Xander bought 14.5% stake in HCC Concessions Ltd for R240Cr.
It's other investments in India include Sadbhav Infrastructure, Sinclair Hotels and Trent.
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KVEZAR VIEW
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 18/05/12 | Private Equity | Panchshil Real Estate Consultants Private Limited | EON SEZ | - | Completed |
| 18/05/12 | M&A | Godrej Properties Limited | Bangalore Land | 18.25 | Planned |
| 18/05/12 | Private Equity | Panchshil Real Estate Consultants Private Limited | Hadapsar Project | - | Completed |
| 18/05/12 | M&A | Looking For | Mumbai Land | 529.20 | Planned |
Fund |
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| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Xander Advisors India | Infrastructure Hospitality Real Estate Retail |
www.xanderfunds.com | Rohan Ranade | |
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